Like the UK, in some Canadian cities, particularly Vancouver, certain obstacles are preventing first-time and young buyers getting their feet on the housing ladder. Unsurprisingly, price is the most obstructive.

Vancouver has become one of the world’s most expensive cities and in light of the probability there won’t be a decrease in property prices anytime soon, the local government has started to consider ideas to make housing more affordable.

The mayor created a task force to look into this issue and suggest fast track solutions and the initial recommendations resulting from this group have recently been released. Their primary concern is to create cheaper housing options and they have suggested that densification, i.e. increasing the concentration of homes, is the answer.

By far the biggest cost in Vancouver real estate is the land, so in order for low to middle income earners to be able to afford properties in more desirable areas the properties should take up less space than the majority of property types in Vancouver (i.e. those built in the 1970’s) currently do.

The task force expects a slow increase in the density of housing in the greater Vancouver area as it can often take months for affordable housing solutions to make it into fruition. As such the task force also recommends the process could be expedited by providing developers with clearer definitions of what their plans need to display in terms of the provision of amenities and the benefits the new housing will bring to the local community.

With the clearer definitions the developers will be in a stronger position to get their plans approved by city officials. If the task force’s recommendations are taken onboard newcomers to Vancouver can expect to see a new wave of affordable housing options for their first home in Canada.

For details of properties for sale in Canada, visit the Canada listings on Rightmove Overseas. Preparation for anyone considering a move to Canada should include planning for the transfer of your pounds into Canadian dollars. For information on how to do this safely and save money when doing so – giving you more to spend on shopping – speak to currency exchange specialist Smart Currency Exchange.

To understand the full step-by-step process to buying a property in Canada, collect The Overseas Guides Company’s ‘Canada Property Buying Guide’